Investigating the Contract Production Process
Capital Markets Law Journal (Forthcoming)
33 Pages Posted: 8 Jun 2021 Last revised: 6 Dec 2021
Date Written: June 5, 2021
Contract law and theory have traditionally paid little attention to the processes by which contracts are made. Instead, contracts among sophisticated parties are assumed to be full articulations of the desires of the parties; whatever the process, the outcome is the same. This article compares sovereign debt contracts from US and UK firms, with different production processes, that are trying to do the same thing under very similar legal regimes. We find that that the production process likely matters quite a bit to the final form that contracts take.
Keywords: Comparing US v. UK contracts, sovereign bonds, innovation, encrustation
JEL Classification: F34, H63, H81, K12
Suggested Citation: Suggested Citation